The Commercial Bank of Ceylon has enabled point-of-sale (POS) usage for UnionPay cards, making it possible for cardholders of the world`s largest card base in circulation to pay for purchases at local retailers with these cards.
This will benefit visiting leisure and business travellers from China in particular by offering them the convenience of cashless payments in Sri Lanka. UnionPay cards have been accepted by Commercial Bank’s ATMs since 2012. Commercial Bank was the first Sri Lankan bank to link its ATMS with UnionPay.
The Bank said EMV-enabled UnionPay cards also enjoy additional security following the upgrade of all Commercial Bank ATMs to offer significantly higher protection against counterfeit fraud.
“Commercial Bank is constantly exploring ways to create convenience for everyone that uses our products and services. Enhancing the versatility of UnionPay cards in Sri Lanka is one example of this, Commercial Bank’s Chief Operating Officer Mr S Renganathan said.
“To date, UnionPay International has extended its card acceptance to 162 countries and regions with 42 countries and regions issuing UnionPay cards. We strive to provide our card users with high quality, efficient and secure payment services. There is significant increase in the number of Chinese tourists eager to travel to Sri Lanka. With UnionPay cards as their key method for payment overseas, we are confident that the collaboration between UnionPay International and Commercial Bank will lead to a win-win situation,” said Mr Shuan Ghaidan, Product Director of UnionPay International.
Commercial Bank is the only Sri Lankan bank to be ranked among the Top 1000 banks of the world for seven years consecutively, and operates a network of 256 branches and 697 ATMs in Sri Lanka. The Bank has won more than 25 international and local awards in 2016 and 2017 and has over the years received multiple awards as Sri Lanka’s Best Bank, Best Trade Bank, Strongest Bank and Most Respected Bank from a number of local and international institutions and publications.
Commercial Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets, Myanmar, where it has a Representative Office in Yangon, the Maldives, where the Bank has a fully-fledged Tier I Bank with a stake of 55% and Italy, where the Bank operates its own money transfer service.